Wood preserving compositions are used to protect wood and other cellulose-based materials, such as paper, particleboard, textiles, rope, etc., from attack by wood-destroying organisms, such as, for example, fungi, bacteria and insects. Conventional wood preserving compositions often contain inorganic compounds, organic biocides, or both in an organic carrier. Examples of inorganic compounds used heretofore are compounds of copper, zinc, tin, boron, fluoride, etc. Organic biocides used heretofore include insecticides, fungicides, moldicides, algaecides, bactericides, etc. that have been dissolved in an oil-borne carrier. Examples of such compounds are azoles, carbamates, isothiazolinones, thiocyanates, sulfenamides, quaternary phosphonium compounds, quaternary ammonium compounds, nitriles, pyridines, etc. The preparation of such compounds in organic carriers is desirable because many organic carriers can impart water repellency and dimensional stability to cellulosic substrates such as wood. However, many inorganic compounds and organic biocides have limited solubility in common and desirable organic carriers, and heretofore, special measures have been taken to overcome the solubility hurdle. For example, inorganic compo have been added to organic carriers as organo-metallic compounds or have been complexed with an organic moiety to enhance its solubility characteristics in a desired organic carrier. Another technique which has been used is the formation of a water-in-oil emulsion in which compounds are dissolved in water as organo-metallic compounds, and the aqueous product is mixed with emulsifying compounds to produce the emulsion. However, these methods do not work for many desirable combinations of inorganic/organic component and organic solvent. Such solutions have remained difficult to prepare.